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Hunt,
For Jose Luis meeting we do not want to offer anything up out of the gate. We've made the offer to them and they've accepted. They'll have ideas on structure and approach that will optimize their likelihood for success so we should wait to hear what those are. But we want to instigate that feedback quickly so push on the '12 month window of opportunity.'

Regionally, it sounds like they want to incorporate Argentina and Chile which is great but re-confirm.

We should invite them to Santa Fe. Jose Luis, Leo and any other critical members of the team and if JL cannot organize we should insist on getting Leo there in the coming weeks. They can fly directly into Houston, see a bunch of properties and connect to Albuquerque to see properties in the morning drive up for afternoon of meetings in Santa Fe, have dinner and depart the next morning.

I left a few flipbooks in your room you can leave behind and suggest that we will follow-up this week with an introductory letter and electronic versions of all the documents. Suggest that we start moving on a Spanish translation of the marketing book and intro letter and outline action items, next steps, and confirm who is going to be the point person from their end (Leo?).

If they do end up asking us to suggest a structure we'll need to discuss but still try and get something out of them so there's nothing lost in translation.

D -

PS. Can you send me the list of target assets for YPF.

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